USDCAD : CYPHER PATTERN

18 Jan 2016

Here is a Cypher Pattern @USDCAD.

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Cypher PATTERN ;

Once you identify your anchor leg draw your fib retracement from your X leg to your A leg. Your B leg should touch the .382 retracement but should not close below the .618. Now that you have your B leg draw a fib extension from X to A and back in. Your C leg should touch the 1.27 but should not close above the 1.414. Finally draw a fib retracement from X to C. Your d leg should come in at the .786. For the Cypher Pattern, draw your targets from C to D. Your targets should be at the .382 and the .618. At here I put my stops at least 1:1 with first target. Also, once you hit target 1, roll your stops to break even. Once you do that you are in a risk free trade. That's all there is to it.


DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.

21 Jan 2016

Nota

Trade Cancelled C leg Changes